Tax breaks for property owners who reduce rents are one of three support plans announced by Finance Minister Konstantinos Petridis.
The Ministry of Finance therefore stated that the two bills approved by the Council of Ministers concern incentives for further reduction of rents and specifically concern owners who rent real estate to natural or legal persons and reduce the rent for a period of three months to facilitate tenants. affected by his judgment Covid-19.
In particular, as he said, the law stipulates that they will be given a tax relief of 50% of the amount of rent reduction, meaning that the reduction in the amount will not be less than 30% of the monthly rent and will not exceed 50% of the monthly rent. .
"So we have two plans that will help address the problem and the rents together with others," Mr Petridis said.
Mr. Petridis said that all bills should be approved by Parliament and the European Commission and added that "based on the second package of economic support, Cyprus is one of the countries that have drawn up a very comprehensive but and a very broad network of support for workers, businesses and society ", he said and appealed to the political parties to vote on these bills".
Source: Offsite